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Not the Roth, the tax break is for a traditional IRA contribution. If you contribute to a traditional IRA, Roth IRA contributions aren’t deductible, you may be able to deduct your contribution, depending on whether you were covered by an employer based plan and your income.
These charts show the income range in which your deduction may be disallowed if you or your spouse participates in a retirement plan at work:
Not the Roth, the tax break is for a traditional IRA contribution. If you contribute to a traditional IRA, Roth IRA contributions aren’t deductible, you may be able to deduct your contribution, depending on whether you were covered by an employer based plan and your income.
These charts show the income range in which your deduction may be disallowed if you or your spouse participates in a retirement plan at work:
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